Shattuck:

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Not counting those one-time Constellation (NYSE: CEG) estimatezs its earnings to be 74 cents per That is lower thanthe 95-cent earnings per sharde of first-quarter 2008 but beats analyst estimateds of 70 cents per share. Company officialss said their efforts to stabilize the companty and limit riskhave worked. Sinced confronting a dangerous cash crunch in Constellation soldtwo commodities-trading business units and is advancingt a proposed sale of 49.99 percent of its nuclead business to French company The crisis led to a $4.5 billion merger with Warren Buffett-owned in September that was later “Our strategic realignment is on CEO Mayo A.
Shattuck III said in a He saidthe company’s plans to limit its exposure to marketr risk are ahead of schedule and have given Constellation $4 billion in cash on hand as of Aprilk 30. Quarterly revenue fell 11 percent, to $4.3 billioh from $4.8 billion in the firstr quarterof 2008. That was on par with analysg estimatesof $4.38 billion in revenue. Profits in the year-ago quarter had been $146 million, comparerd with the quarterly lossthis year. The company affirmee expectationsof $2.90 to $3.20 in earningas per share for 2009. Constellationj estimated the sales ofits London- and Houston-based commoditiesa trading businesses and other costsx to total $271 million.